Cloud-based ERP-the new business paradigm
Sam Tayan, MD of Sage Middle East on the benefits a robust business management solution.
As organisations expand across geographies, their operations, systems and processes have also become more complex. We have seen the sands shift in terms of regulations and compliance across the global landscape, and the Middle East is no exception.
Coupled with business’s ambition to grow rapidly, companies need insights and control to manage and streamline their business processes by championing technology solutions. Think about all the core processes needed to run a company: finance, HR, manufacturing, supply chain, services, procurement, and others. How can these be integrated into a single system?
The premise is simple: software solutions like cloud-based Enterprise Resource Planning (ERP). Over the past decade, ERP software have become smarter, more powerful, versatile and, most importantly, integral and linked to all parts of the business. We have noted that an increasing number of businesses have now started to invest in ERP solutions in the region.
The MENA region has seen record-high enterprise application software reaching US$760 million in 2018, as per International Data Corporation’s recent report. Cloud-based solutions are helping organisations of all sizes become more agile, efficient, and productive.
The UAE’s ERP market saw significant growth owing to rising government initiatives, such as Smart Dubai, UAE Vision 2021, and Abu Dhabi Economic Vision 2030. The market is expected to grow further as businesses reduce operational costs by implementing or upgrading cloud-based ERP software to drive their operations forward.
However, many of them are using legacy systems rather than integrated, enterprise applications. An ERP system can be one of the most crucial and transformative investments a company makes, fuelling its growth to another level.Legacy ERP solutions are unable to provide the level of real-time data collection and analytics needed, nor can they adapt to changing business requirements. They are comparatively complex to use and inflexible, making it difficult for organisations to streamline their processes.
Adopting modern technology infrastructure
A robust business management solution can be a real game changer, helping enterprises meet the dynamic challenges of today’s business world.
New generation solutions will help optimise overall business performance by providing firms with critical information in real-time, offering data analytics and business intelligence functions. To top that, an advanced cloud-based ERP solution will adapt to the ever-changing business requirements providing the flexibility required to operate in a dynamic economy. This will enable enterprises to make better and more informed decisions while simplifying operations.
Integrate the disintegrated
Integrated solutions are critical for today’s major corporations, to offer business leaders a holistic view of the company. These insights, using integrated solutions, can help identify, understand and predict new threats or opportunities in today’s fast-paced commercial landscape.
Integrated, cloud-based technology solutions create a centralised repository of information about services, products, vendors, retailers, company financials, suppliers, and customer orders. This enables different departments to review information and collaborate when needed, resulting in streamlined processes. When this type of integration occurs, executives have a holistic view of what is happening at each business unit. Not only does this create synergy, but it gives businesses the dexterity required to adapt.
Added-value with cloud-based solutions
Having the right ERP solution in place is the first step, but businesses also need to consider whether or not their ERP solution enables them to add news products as required. While legacy ERP systems were unable to provide this benefit, cloud-based ERP solutions offer greater functionality.
A cloud-based solution may be implemented at any stage of your business, offering the ability to grow and evolve over time by simply adding the products required. A range of additional cloud-based products can be embedded as required across accounting, financial, human resources and payroll, payments, and banking. It also allows businesses to add third-party products from independent software vendors if needed. This empowers the business to grow rapidly across all departments.
By adopting advanced cloud-based ERP solutions, you position your company for growth, make employees’ jobs easier, and standardise global operations by decreasing the complexity of running a business. Companies and individuals who have embraced these technologies are likely to stay ahead of their peers when it comes to adding value to their departments and businesses. It is the ultimate answer your business management solution needs to future-proof your organisation.